Foreclosure Proceeding Started

I have a “Foreclosure was started” comment on my Experian report. We have made our payments on time for the last 30 months. What should the comment be changed to in order to show that we are no longer in foreclosure and that we are now current? I have seen “Paid Foreclosure.” Would that be accurate?

– RJP

Dear RJP,

The account status and balance history should reflect that it is now current. However, the fact that foreclosure proceedings were started will remain part of the account history for seven years. A status of “Paid Foreclosure” would indicate that account is now closed, the mortgage balance is paid in full, but that the mortgage went into foreclosure, which was not the case.

We’re happy to hear you were able to reinstate your mortgage and keep your home. The good news is that the longer you remain on time and current with your mortgage payments, the less impact the negative account history will have on your creditworthiness.

The information contained in Ask Experian is for educational purposes only and is not legal advice. You should consult your own attorney or seek specific advice from a legal professional regarding your particular situation. Please understand that Experian policies change over time. Posts reflect Experian policy at the time of writing. While maintained for your information, archived posts may not reflect current Experian policy. The Ask Experian team cannot respond to each question individually. However, if your question is of interest to a wide audience of consumers, the Experian team will include it in a future post.